Spatial Spillover Effects And Boundaries Of Innovative Investment

As China's economy enters the new normal,China's economic development has gradually changed from a high-speed growth stage to high-quality development stages.And,China's economy has entered a new period in speed shifting,structural adjustment and new and old kinetic energy conversion.At the critical stage of the transformation of new and old kinetic energy,the innovation of core technology has become the basis for the conversion of old and new kinetic energy.However,compared with developed countries,China's overall innovation capability is still relatively backward.Therefore,China urgently needs to promote comprehensive innovation capability,improve the efficiency of innovation resource utilization,improve the innovation environment and improve the innovation system by promoting inter-regional collaborative innovation and exerting the spillover effect of innovative investment space.Based on this,this paper employs the patent data from 2005 to 2015 to construct the inter-regional technical distance index.It is hoped that through theoretical and empirical analysis,the existence of the connection effect and spatial spillover effect of innovation investment in technical distance space will be tested and the spillover boundary of innovative investment in technical distance will be measured.And based on this,propose relevant policy recommendations.The conclusions of this paper are as follows:(1)Innovation investment can significantly improve the innovation efficiency of the region and can significantly improve the innovation efficiency of surrounding areas through its spillover effect.(2)The spillover effect of innovation investment in the technical distance space is significantly higher than the spillover effect in the geographical distance space.(3)The spatial spillover effect of innovative investment will be weakened with the increase of technological space distance.The effective spillover distance requires the technical distance ?ij to be above 0.26,that is,the coincidence degree of the dominant comparative advantage of the technology possessed by the two regions should be above 26%.And the dense overflow distance requires a technical distance ?ij of 0.4 or more,that is,the coincidence degree of the dominant comparative advantage of the technology possessed by the two regions should be above 40%.The main innovations of this paper are as follows:(1)This paper constructs the inter-regional technical distance index through patent data and measures the technical distance of each region from the technical point of view,which makes up for the shortcomings of existing research on regional technology space association and recognizes the similarity and heterogeneity of technical structures between different regions.(2)This paper measures the attenuation of innovation investment with the increase of technical space distance,which is helpful to understand the boundary of innovation investment spillover from the perspective of technical distance.(3)This paper incorporates the spatial spillover effect of innovative investment into the framework of innovation efficiency analysis and gives a better understanding of the mechanism that innovation investment impacts on innovation efficiency,which has theoretical guiding significance for China's macro innovation investment layout.